Uncle ELD, when will you pay me back?Its a magical time of year. We meet that smooth, suave and august relative we loaned money to back in 2013.I wrote him a letter this year,
Dear uncle ELD,
Please anyone explain this magic trick you have performed since 2013
AISC - About $900
Price of gold - over $1250
Difference is $350
Wow that means when you produced 486 000 ounces in 2016 you should have had over 150 million profit. Thats what you told on the slides but instead hundreds of millions are lost each year.
I , as a co-owner have many questions like why does this go on for so many years, each quarter,its like a con job but I am not accusing you sir.
But you keep losing all the time. This is so mysterious that I may need an expert to address this.
When will these weird accounting rules in my disfavour stop ? I am planning on buying many options tomorrow regardless of opinions, because your numbers are right and the cops are holding you hostage in Greece prisons illegally, but need you to tell me why its all the time, all the time losses , all the time , another charge, another this another that. That is the only downside i see since you sold me a part of your business and you always have an excuse. What will it be next quarter ?
Sincerely,
Vinnie
Is ELD that relative? Please reassure me that uncle ELD is not an accounting crook.